Best Condo Insurance in 2025

The best condo insurance companies are Chubb, Amica, and Erie, offering reliable protection with rates starting at just $38 a month.

Chubb is the top pick for high-value condo coverage, with the highest claims satisfaction score and A.M. Best rating when compared to other condo insurance companies.

Amica earns praise for its exceptional customer service and policy flexibility, while Erie is a favorite for budget-conscious shoppers looking for the cheapest home insurance.

Top 10 Companies: Best Condo Insurance

Condo insurance costs depend on your unit’s value, location risk, policy deductible, and your credit score. You can reduce rates with savings from bundling and safety features.

Comparing top providers helps condo owners find the best rates. Explore home insurance costs in your area by entering your ZIP code into our free comparison tool.

Getting the Best Condo Insurance Rates

Erie Insurance offers the lowest monthly premium at $41 for $200,000 in coverage, and continues to be the most affordable option across all dwelling limits, with monthly rates of $59 for $300,000, $93 for $500,000, and $148 for $1 million.

American Family Insurance is the next cheapest option at $44 per month for $200,000, providing solid coverage and flexibility for standard condo units (Read More: American Family vs. Travelers Insurance Review).

Condo Insurance Monthly Rates by Dwelling Coverage

Amica Mutual Insurance and Nationwide follow closely, both offering monthly premiums under $50 for the same profile and coverage amount.

By contrast, Chubb charges $55 for $200,000 and up to $190 for $1 million in coverage, which aligns with its premium positioning for high-value condos.

This pricing breakdown clearly shows why Erie and American Family are the best and cheapest condo insurance providers.

Learn how to estimate home insurance costs based on where you live to find the cheapest condo insurance company in your city.

How Local Risks Impact Condo Insurance Rates

Local property conditions and location-based risks play a big role in determining monthly condo insurance rates. A standard condo averages $48 per month, but costs increase when certain risk factors are present.

For example, older condos can cost around $63 per month, while high-value condos average $82 monthly because they’re more expensive to repair or rebuild.

Condo Insurance Monthly Rates by Risk Factor

Weather risks have an even bigger impact. In low-risk areas, the average rate is about $46 per month, but it climbs to $60 in moderate-risk zones and up to $77 in high-risk zones.

If the condo is located in a hurricane or flood-prone area, premiums can jump to $91 per month, the highest average across all risk factors (Read More: Home Insurance Rates by State).

States like Wyoming and Idaho tend to have lower average condo insurance rates because they face fewer weather and disaster risks.

Coastal and southern states like Florida, Texas, and Louisiana, on the other hand, often have the highest premiums, reflecting their greater exposure to hurricanes, flooding, and other natural hazards.

Living in these areas often means paying more for coverage, but raising your deductible can bring your monthly rate down. Condo owners with no previous claims pay about $45 per month on average, compared to $88 for those with claims on file (Learn More: How to File a Home Insurance Claim After a Wildfire).

In high-risk areas, insurance companies charge more because the chance of damage is greater. A higher deductible and a good claims history show you’re a lower risk, which can help reduce your premium. Understanding how location and risk affect your rate makes it easier to compare condo insurance quotes and choose the best option for your situation.

Cheap Condo Insurance Based on Deductible

Your insurance deductible plays a big role in how much condo owners pay each month, and raising the deductible can lead to major savings without sacrificing coverage.

Erie Insurance offers the cheapest rate, $38 per month, with a $10,000 deductible, followed by American Family Insurance at $39 monthly and Progressive and Farmers Insurance at $40 per month.

Condo Insurance Monthly Rates by Deductible

The higher your deductible, the less risk the insurer takes on small claims, which is why your monthly premium goes down. This happens because you’re assuming more of the initial financial responsibility, which lowers the insurer’s expected payout.

For example, Erie Insurance charges $57 a moonth with a $1,000 deductible, and Chubb charges $70 monthly, but both drop by more than $20 when the deductible is raised to $10,000.

Choosing a higher deductible can be a smart way to reduce costs on HO-6 condo insurance, especially for owners who have funds set aside for emergencies. It doesn’t reduce your protection, just changes how costs are shared between you and your insurer when a claim is filed.

Top companies like Erie and American Family Insurance offer some of the lowest premiums at higher deductibles, making condominium insurance more affordable without sacrificing essential coverage.

Cheap Condo Insurance Based on Credit Score

Your credit score can make a noticeable difference in what condo owners pay each month. Those with excellent credit get access to the lowest rates.

Erie Insurance stands out as the cheapest option at $41 per month, followed by American Family Insurance at $44 monthly. Even as credit scores drop, these two remain among the most affordable providers.

Condo Insurance Monthly Rates by Credit Score

For example, Erie’s rate increases from $41 a month with excellent credit to $59 monthly with poor credit, while Chubb jumps from $55 to $77 per month, showing how credit can add over $30 to a monthly premium.

Maintaining a good credit score can keep coverage more predictable over time. Condo owners with lower credit can still save by comparing quotes and choosing companies with less aggressive credit-based pricing, like Erie and American Family.

Read More: Is home insurance required?

Condo Insurance Coverage Options

When choosing a condo insurance policy, it’s important to understand how an HO-6 policy works and what it covers. An HO-6 policy, also called condo insurance, is designed specifically for condo owners.

Unlike a standard homeowners policy, which covers the entire structure, an HO-6 policy typically protects only what’s inside your unit and your personal liability.

• Dwelling Coverage (Interior Unit): Protects the inside of your condo, including walls, ceilings, built-in fixtures, and flooring, from covered events like fire, wind, or vandalism.
• Personal Property Coverage: Covers your belongings such as clothing, furniture, electronics, and appliances against theft or damage.
• Liability Coverage: Pays legal and medical costs if you’re responsible for injuries or damage to others.
• Loss of Use Coverage: Helps with extra living expenses, like hotel stays or meals, if your condo becomes unlivable after a covered claim.
• Loss Assessment Coverage: Covers your share of costs if the condo association’s insurance doesn’t fully pay for repairs to common areas.

The exterior structure and shared areas are usually covered by your HOA’s master policy, so review the HOA policy before buying an HO-6 condo policy.  Compare quotes from multiple insurers to find the best balance between coverage and cost.

Understanding how condo vs. homeowners insurance differs makes it easier to choose the right policy, and comparing different homeowners policy types side by side can help you find the best coverage and value for your condo.

Ways to Save on Condo Insurance

Lowering your condo insurance costs isn’t just about finding a cheaper provider. Simple, practical choices, like raising your deductible, improving security, or keeping a clean claims record, can make a noticeable difference in your monthly premium.

Many of these strategies can be applied before you even buy a policy, giving you more control over how much you spend.

• Increase Your Deductible: A higher deductible can cut your monthly condo insurance bill by $20–$30 or more.
• Improve Your Credit Score: Better credit often leads to lower rates and more flexible payment options.
• Upgrade Security: Smart locks, alarms, and monitoring systems can lower your premiums.
• Limit Claims: Avoiding unnecessary claims keeps your record clean and rates stable.
• Compare Quotes: Shopping around is one of the easiest ways to find real savings.

When it comes to discounts, bundling and security systems can bring the biggest savings. American Family Insurance stands out with the largest security system discount at 29%, while Amica Mutual Insurance offers up to 20% for bundling.

These two options can lead to some of the largest overall reductions in monthly premiums. Other top insurers like Progressive and Allstate also offer strong bundling discounts of around 15–16%, which can add up over the year.

Top Discounts for Condo Insurance

Pairing these discounts with a smart deductible choice and a clean claims history is often the most effective way to lower condo insurance costs without cutting coverage.

Comparing multiple quotes makes it easier to determine how much homeowners insurance you need and find which company gives you the best total savings.

List of the Top Condo Insurance Providers

When comparing condo insurance options, it can help to look at the biggest players in the market.

State Farm and Allstate dominate nearly half the market as the most popular condo insurance providers.

Picking the right condo insurance provider is about finding the company that best fits your needs, budget, and location. Comparing homeowners insurance quotes, coverage features, and customer service reputations can help you find the right policy.

Chubb and Amica are the best condo insurance companies for their customer satisfaction ratings, beating State Farm and Allstate for claims handling.

#1 – Chubb: Top Overall Pick

Pros

• High-Value Protection: Chubb condo insurance excels in providing tailored protection for luxury condos with $200,000 coverage starting at $55 a month.
• Superior Financial Strength: Chubb holds an A++ A.M. Best rating, offering condo insurance customers peace of mind for claims security.
• Strong Claims Service: Chubb condo insurance has a top claims satisfaction score of 688/1,000, ideal for high-value properties.

Cons

• Higher Premiums: Chubb condo insurance costs more than average, which may not suit price-sensitive condo owners. Read our homeowners insurance coverage explained.
• Fewer Discount Programs: Chubb condo insurance lacks some bundling and security system savings offered by other carriers.

#2 – Amica: Best for Superior Claims

Pros

• Top Claims Reputation: Amica condo insurance boasts a 679/1,000 claims satisfaction score and $200,ooo coverage starting at $46 a month.
• Strong Financial Stability: An A+ rating ensures Amica condo insurance customers can rely on consistent claim payments.
• High Customer Loyalty: Amica condo insurance is known for low complaint ratios and responsive claims adjusters, a key point often highlighted in Amica insurance review.

Cons

• Limited National Availability: Amica condo insurance isn’t offered in all states, restricting access for some buyers.
• Fewer Digital Features: The online quote and policy management experience for condo insurance is more basic than top competitors.

#3 – Erie: Best for Solid Stability

Pros

• Lowest Pricing: Erie condo insurance leads with $200,000 coverage starting at $41 a month, making it the cheapest among top 10 companies.
• Strong Claims Record: Erie condo insurance has a 674/1,000 claims score, showing dependable customer support.
• Solid Financial Health: With an A+ rating, Erie condo insurance is financially secure for long-term protection. See our Erie insurance review for details.

Cons

• Regional Limitations: Erie condo insurance is available in select states only, limiting nationwide reach.
• Fewer Online Tools: Erie condo insurance lacks robust apps and digital claim tracking options.

#4 – Nationwide: Best for Deductible Savings 

Pros

• Deductible Flexibility: Nationwide condo insurance lets policyholders lower premiums through flexible deductibles, starting at $45 a month for $200,000 coverage.
• Strong Financial Standing: A+ rated Nationwide condo insurance gives owners confidence in claims backing. See feedback in our Nationwide insurance review.
• Solid Discount Opportunities: Nationwide offers bundling, security, and green home discounts of up to 20% on condo insurance.

Cons

• Slower Claims: Nationwide condo insurance has reported slower average claim resolution times compared to Amica and Chubb.
• Higher Risk-Zone Premiums: Condo insurance rates can rise up to $91 a month in hurricane or flood-prone areas.

#5 – American Family: Best for Tailored Coverage

Pros

• Customizable Coverage: American Family condo insurance offers flexible endorsements and $200,000 coverage starting at $44 a month.
• Reliable Financial Strength: Rated A, American Family condo insurance is dependable for claims payouts.
• Bundling Savings: Policyholders can save up to 15% through auto and condo insurance bundling.

Cons

• Limited Availability: American Family condo insurance is not available nationwide. Our American Family insurance review shows why many trust its property protection.
• Average Claims Timelines: Claims may take longer to process than leading competitors like Amica.

#6 – Progressive: Best for Top Satisfaction

Pros

• Competitive Pricing: Progressive condo insurance offers $200,000 coverage from $46 a month, appealing to cost-conscious buyers.
• Digital Convenience: Progressive condo insurance provides a fast, fully online quote and claims process.
• Financial Stability: Progressive’s A+ rating ensures strong backing for condo insurance claims, a feature often praised in Progressive insurance reviews.

Cons

• Limited Luxury Coverage: Progressive condo insurance is better for standard condos, not high-value properties.
• Bundling Cap: Discounts typically max out around 16%, less than some rivals like Nationwide.

#7 – Allstate: Best for Extensive Network

Pros

• Nationwide Support: Allstate condo insurance offers $200,000 coverage from $47 a month, supported by a wide agent network.
• Reliable Financial Strength: With an A+ rating, Allstate condo insurance is backed by a strong financial foundation.
• Generous Discounts: Bundling and security system savings can reduce condo insurance premiums by up to 15%.

Cons

• Higher Base Premiums: Allstate condo insurance is often pricier than Erie or Amica for similar coverage.
• Mixed Claims Reviews: Some policyholders report inconsistent claim resolution times. Check our Allstate Insurance review to see how it compares on premium costs.

#8 – Travelers: Best for Industry Experience

Pros

• Trusted Legacy: Known for long-standing financial strength, Travelers condo insurance appeals to cautious buyers.
• Strong Financial Backing: Travelers condo insurance holds an A++ rating, ensuring claim stability with $200,ooo coverage starting at $48 a month.
• Broad Policy Options: Offers flexible add-ons for personal property and loss assessment coverage. Read our Travelers insurance review for comparisons.

Cons

• Limited Discounts: Travelers condo insurance bundling and security savings are lower than Progressive or Nationwide.
• Dated Digital Tools: Customer portal and mobile experience are less modern compared to top competitors.

#9 – Farmers: Best for Discount Variety

Pros

• Multiple Savings: Farmers condo insurance offers various discounts with $200,ooo coverage from $49 a month, including bundling and security incentives.
• Local Support: Farmers provides personalized service through a large agent network. Our Farmers Insurance review explains how this policy works.
• Solid Financial Rating: Farmers condo insurance has an A rating, ensuring dependable claims handling.

Cons

• Price Sensitivity: Farmers condo insurance tends to be more expensive in high-risk states than other providers.
• Inconsistent Claims Feedback: Farmers’ reviews cite and feedback varying claims resolution experiences.

#10 – Liberty Mutual: Best for Flexible Benefits

Pros

• Broad Coverage Flexibility: Liberty Mutual condo insurance starts at $50 a month for $200,ooo coverage and includes optional endorsements.
• Discount Options: Bundling and security savings can reduce condo insurance costs by up to 14%.
• Solid Reputation: A rating supports dependable claims handling for condo insurance customers. Check our Liberty Mutual insurance review how it quickly provides a quote.

Cons

• Higher Rates: Liberty Mutual condo insurance premiums are often above competitors like Erie and Amica.
• Moderate Claims Speed: Customers report average response times during high-volume claim periods.

Finding the Best Condo Insurance

The best condo insurance combines strong coverage, affordable pricing, and reliable claims support. Chubb is a top pick for high-value condos, Erie Insurance stands out for low rates, and Amica Mutual Insurance is highly rated for customer service.

Compare multiple top-rated insurers to find the right fit. Look closely at monthly premiums, deductible options, and available savings such as bundling or security system discounts.

Determine how much protection you need for your unit’s interior, personal belongings, and liability, taking into account what your HOA’s master policy already covers (Learn More: How much homeowners insurance do you need?).

Comparing coverage side by side ensures you get the best condo insurance for both protection and value. The best place to start when you want affordable condo insurance is to enter your ZIP code into our free comparison tool.